Introducing $PACT Governance Token + Airgrab & impact Farming
impactMarket is an application layer protocol designed to fight poverty quickly and effectively while empowering local & social change, bottom-up economic development, and prosperity. It enables any vulnerable community to have its own Unconditional Basic Income for its beneficiaries.
Currently supporting 130+ communities across 25+ developing countries, including Brazil, Venezuela, Ghana, Peru, Colombia, Philippines, Uganda, Afghanistan, Malawi, India, Zimbabwe, Nigeria, Yemen, South Sudan, Burkina Faso, Palestine, Argentina, Chad, Mozambique, and Kenya.
impactMarket has been a catalyst to unlock human potential by effectively fighting extreme poverty while driving DeFi adoption and retention for those who need it the most.
impactMarket protocol is being built to:
- Accelerate poverty alleviation, access to finance, & wealth redistribution;
- Ensure the primacy of the individual & the social objective over capital;
- Allow democratic governance, autonomous management, and independence of the protocol from public and central authorities.
$PACT — Governance Token
As a next step, to ensure more decentralization, independence, and collective decisions among the participants of impactMarket protocol, we’re excited to introduce impactMarket DAO and $PACT token that acts as a global medium of governance, empowering participants through decision-making and comprehensive incentive mechanisms.
PACT token holders have the ability to influence the future health, direction, growth, and impact of the protocol through its DAO.
$PACT governance token so far:
- Developed in partnership with Keyko.io, audited by Omniscia;
- Launched on Dec 22, 2021, through an IDO on Polkastarter. Raised 111,100 CELO (~$500K) in ~17 minutes, with 2288 participants, for 150M PACT;
- Listed on Ubeswap (pair PACT-CELO) + liquidity mining farm with triple rewards (CELO + PACT + UBE). All Ubeswap farms can be found here;
- Listed on CoinGecko and CoinMarketCap;
10B PACT total token supply allocation over the next 10+ years:
- 40% to the Community, to be claimed over time by main participants, including impact Farming;
- 30% to impactLabs, which includes our team, equity investors, and key partners;
- 20% held on impactMarket DAO as Reserve, managed by token holders;
- 10% Early participants through a retroactive airgrab, including past contributors, community managers, beneficiaries, and CELO/cUSD holders.
$PACT circulating supply estimation & calculation:
- Community & impactLabs PACT governance tokens allocation will be unlocked/available through the impact Farming mechanism, to be claimed by users who donate cUSD after 15 epochs from the day of the donation, for several years (2030+), both at a similar exponentially reducing release rate.
- Current PACT circulating supply is available here, which equals Total Supply (10B) — # PACT tokens that are still in the main smart contracts (not claimed or withdrawn yet) including Community, impactLabs, AirGrab, DAO, & IDO.
Since impactMarket was deployed on Celo network and started enabling unconditional basic income to the first vulnerable communities, in Sep 2020, both contributors, community managers, end beneficiaries, and all the Celo ecosystem were extremely important for the development, growth, and improvement of the protocol. Because of that, we have decided to allocate 10% (1,000,000,000 PACT) as a retroactive airgrab for their early support and all the help.
The snapshot of the Celo network was taken on block 10,480,000 (Dec 20, 2021, at ~05:30 am UTC).
1B PACT AirGrab tokens allocation*:
- 750M PACT to 676 contributors, based on how much each has donated (in cUSD or CELO) to support vulnerable communities vs. total raised (~$1.84M), until block 10,480,000. ~400 PACT/cUSD;
- 50M PACT to 356 community managers & local charities. ~113,664 PACT/each;
- 100M PACT to 37,061 beneficiaries. ~2698 PACT/each;
- 100M PACT to 59,324 holders of CELO or cUSD (holding at least 1 CELO or 10 cUSD on their Celo wallet until block 10,480,000). ~1685 PACT/each.
To verify if you have tokens allocated and claim, access impactmarket.com/governance and connect your Celo wallet.
*PACT tokens not claimed after 1 year, can be requested back to the DAO by token holders.
Introducing an incentive mechanism to reward contributors for their support, on a regular basis.
impact Farming is a kind of “donation mining” that allows anyone to claim $PACT tokens as rewards for their $cUSD contributions to back UBI in vulnerable communities. Each epoch (~24h) new $PACT tokens will be available to be claimed by those who contributed 15 epochs (days) before.
Rewards calculation and allocation will happen, based on how much $cUSD (Celo Dollar) each contributor has donated vs the total raised on each epoch.
Each contributor $PACT rewards/epoch = Contribution amount in $cUSD on current epoch / Total raised during the same epoch * Available new $PACT tokens on that epoch.
Each new epoch, fewer $PACT tokens become available, starting at 4,320,000 PACT/epoch. $PACT rewards will be able to be claimed/withdrawn 15 epochs after the contribution. impact Farming has initiated on block 10,611,000 (Dec 27, 2021, at ~6pm UTC).
Both AirGrab & impact Farming can be accessed on impactmarket.com/governance
A special thanks to the Keyko team and Celo Foundation for all the support, guidance, patience, and enthusiasm.
If you have any questions, you can reach out to us at impactmarket.com, docs.impactmarket.com, or directly by emailing us at email@example.com.
You can also find us on Medium, Facebook, Instagram, LinkedIn, Twitter, GitHub, Youtube, Telegram, and Discord.
Dare to dream with us!
You can be part of the change and empower people all around the world. Your contribution goes to the UBI communities, and when donating cUSD to a specific community or through the impact Farming page or to a specific community, you get $PACT tokens as a reward for the impact you´ll have made. You can also stake your $PACT to get even more rewards.
impactMarket (The Human Empowerment Protocol)
impactMarket provides accessible financial solutions to empower underprivileged people all over the world, unlocking opportunities and human potential. Our inclusive protocol is transparent, reliable, and borderless. It operates as a DAO on top of the Celo network, using $PACT as its governance token while running autonomously through smart contracts.
impactLabs (the company)
impactLabs Lda, based in Portugal, was founded in Nov 2020 by Marco Barbosa, Bernardo Vieira, Afonso Barbosa, and eSolidar. The company is focused on building accessible decentralized systems to unleash human potential and disrupt access to finance while driving DeFi adoption.